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President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has announced plans for the Aliko Dangote Foundation to collaborate with state governments to empower vulnerable women across Nigeria through participation in the Dangote Petroleum Refinery and Petrochemicals Limited Initial Public Offering (IPO).

Dangote made the announcement in New York during the 81st United Nations General Assembly while responding to a question from the Secretary to the Yobe State Government, Dr. Goje Mohammed. The discussion focused on how partnerships between government and the private sector can help conflict-affected communities, particularly widows, build sustainable financial futures through investment opportunities.

According to Dangote, the Foundation will work closely with state governments to ensure that women from vulnerable groups, including widows and victims of conflict, can take advantage of the refinery’s share offering and begin building long-term wealth through equity ownership.

The initiative is designed to expand access to Nigeria’s capital market by giving women who might otherwise be excluded the opportunity to become shareholders in one of Africa’s largest industrial enterprises.

Speaking on the programme, Dangote revealed that the Foundation plans to provide additional support to participating women by donating shares to complement their investments.

“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.

He explained that women who purchase shares under the IPO will receive an additional allotment of shares from the Foundation, helping them establish a long-term financial asset.

“Beyond enabling them to buy shares, the Foundation will also support them by donating additional shares that they can hold as savings for the future,” Dangote noted.

The programme targets up to two million women nationwide, making it one of the largest financial inclusion and women’s empowerment initiatives linked to Nigeria’s capital market.

“We are looking at reaching about two million women through this initiative,” he added.

The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to democratise ownership of the landmark refinery and enable more Nigerians to share in the value created by one of the country’s most significant private-sector investments.

The initiative is expected to have particular significance for conflict-affected states such as Yobe, where many widows and vulnerable households continue to face economic challenges resulting from years of insecurity. By facilitating access to investment opportunities, the partnership aims to provide a pathway to sustainable wealth creation and long-term financial security.

Dangote emphasized that collaboration between the Foundation and state governments will create a structured framework for supporting vulnerable women to participate in the IPO, reinforcing the role of investment and equity ownership as tools for economic empowerment, financial inclusion and social development.

Through this initiative, the ownership opportunity presented by the Dangote Refinery IPO will be extended to some of Nigeria’s most vulnerable women, helping them build assets, secure their futures and participate directly in the growth of a landmark national enterprise.

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The Central Bank of Nigeria, CBN, has cut its interest rate to 23 per cent from 26.5 per cent.

The CBN Governor, Olayemi Cardoso, disclosed this during a briefing after the 307th Monetary Policy Committee, MPC meeting on Tuesday.

Announcing the rate cut, Cardoso said, “The Committee decided as follows: reset the monetary policy rate to 23 per cent.”

He added that the apex bank has been able to raise the country’s foreign reserves to $55 billion.

The MPR cut follows a hold at the two previous MPC meetings and a 50-basis-point cut announced in February 2026.

Recall that Nigeria’s inflation rate fell for two consecutive months in July and August 2026, declining to 15.39 per cent in August from 15.43 per cent recorded in July.

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By Gloria Ikibah.

Nigeria and India have reaffirmed their commitment to deepening bilateral relations, with economic cooperation, consular matters, education and cultural exchanges featuring prominently in talks between their foreign ministers.

Nigeria’s Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, held bilateral discussions with her Indian counterpart, Dr S. Jaishankar, on the sidelines of the 18th BRICS Leaders’ Summit in New Delhi.

The summit was hosted by India under the theme, “Building Resilience, Innovation, Cooperation and Sustainability”.

A major issue discussed was the welfare of Nigerians living in India, particularly those who have overstayed their visas.

Odumegwu-Ojukwu sought a further extension of the existing amnesty arrangement to allow affected Nigerians to return voluntarily without facing penalties.

The two ministers also discussed the possibility of concluding a bilateral Memorandum of Understanding on the Transfer of Sentenced Persons.

Such an agreement will establish a framework for the humane and orderly transfer of eligible prisoners between Nigeria and India.

Economic relations also featured prominently during the meeting, with both sides exploring opportunities to expand trade and investment and strengthen mutually beneficial economic partnerships.

The ministers further identified education and cultural exchanges as key areas for improving people-to-people relations between the two countries.

Greater cooperation in these areas is expected to promote mutual understanding and create more opportunities for citizens of Nigeria and India.

The meeting formed part of Nigeria’s efforts to use its participation in the BRICS platform to advance bilateral partnerships, open up new economic opportunities and strengthen South-South cooperation.

Nigeria became a BRICS partner country in January 2025, providing a platform for Abuja to deepen engagement with major emerging economies while pursuing its broader economic and diplomatic interests.

The bilateral talks with India therefore added a practical dimension to Nigeria’s participation in the New Delhi summit, particularly in areas directly affecting Nigerians in India and the wider economic relationship between both countries.